ASIC brings changes against former Centro directors

The Australian Securities and Investment Commission this week announced it intended bringing civil charges against the enitre 2007 board and a former Chief Financial Officer of various entities withing the Centro Properties Group and Centro Retail Group.

This is the first case brought where the requirement that a listed entity’s CEO and …… continue reading >>

Norges Bank pushes four companies for independent chairs

Norges Bank Investment Management (NBIM), the investment arm of the Norwegian central bank and asset manager for the Norwegian Government Pension Fund and the Government Petroleum Insurance Fund managing over NOK1,000bn (£107bn) in equity investments, has filed shareholder proposals at four US companies calling for independent chairmanship.

Meetings at Harris Corporation (23rd OCtober), Parker …… continue reading >>

Boardroom warfare at Fairfax Media ahead of AGM

With the AGM of Fairfax Media due to be held on 10 November, Fairfax directors John B Fairfax and his son Nicholas have  released a public statement indicating that the will vote against the re-election of the Chairman, Ron Walker, at the AGM. This follows comments by Walker on Thursday in the Australian …… continue reading >>

US Bank Boards after the crisis

A research study by Manifest’s US partners, PROXYGovernance Inc(PGI), reveals some interesting trends about US board governance. PGI’s review of Russell 3000 companies holding their 2009 annual meeting prior to July 1 reveals that boards of financial services firms have added fewer new directors since the sub-prime credit crisis began than boards in any other …… continue reading >>

Financial Market Reform: US investors have their say

The Investors Working Group, a bi-partisan panel of experts created in February 2009 by the Council of Institutional  Investors and the CFA Institute Centre for Financial Market Integrity, has released its recommendations for reform and modernisation of the US financial markets.

According to the report, strengthening existing regulatory agencies, closing gaps in the …… continue reading >>

Sir David Walker’s 39 Steps

Sir David Walker’s review of the governance of UK banks, commissioned by Prime Minister Gordon Brown, has published 39 recommendations aimed at improving the governance of  banks and other big financial institutions (BOFIs). The aim of the report was to find ways of minimising risky behaviour and improving the way companies and shareholder communicate and interact.

Many …… continue reading >>

Cattles directors herded out

Cattles plc has announced a clear-out of its Board following the completion of a forensic review into its impairment provisions:

Norman Broadhurst (Chairman), who previously announced he intended to retire at the AGM, has stood down from the board with immediate effect. David Postings (Chief Executive) is leaving the company with immediate effect, …… continue reading >>

Manifest publishes Total Remuneration Survey 2009

Manifest’s annual review of executive remuneration trendshas now been published and has received a positive response from a variety of market commentators including Robert Peston for BBC’s News at 10 and the BBC World Service’s European Business News.

 This year’s survey has been extended to included pensions data as well …… continue reading >>

Get Adobe Flash playerPlugin by wpburn.com wordpress themes